Gold Dips on Profit Takin

Gold prices fell on Friday as some investors locked in profits at the end of the week, but experts expect the market could advance towards $1,300 U.S. next week.

Spot gold was down 0.2% at $1,288.65 U.S. per ounce early Friday morning. Bullion was down about 0.4% for the week.

U.S. gold futures for December delivery dipped 0.3% to $1,288.60 U.S.

At least one expert said gold was supported by the release of the U.S. Federal Reserve's minutes on Wednesday, regarded as "dovish" and which lowered market expectations slightly of a March rate hike.

A December rate hike has already been priced in, and some add the Fed's cautious view of inflation could lead to a longer period of low interest rates which provides a solid platform for gold investment.